tv Varney Company FOX Business August 14, 2014 11:00am-1:01pm EDT
a great big hug. good morning. maybe i am coming on a little strong but there was a political cringe moment last night. we saw hillary clinton making nice about her relationship with president obama. who looked phony to me. then came the big hug which we didn't see but are asked to believe actually happens. you really think it was an all is forgiven moment on martha's vineyard when they met last night? there is more. president obama will not give back donations from people linked to those unpatriotic companies that are leaving america. the fund-raiser in chief is keeping the cash. that is hypocrisy. the presidential wannabe. >> great to be back in the
vineyard. >> we are looking forward to it. going to be there tonight. stuart: it sounds harsh. it came across as funny to me. i know i am being harsh. mary kissel, wall street journal editorial board, let's take this story forward. that was last night. now move forward. democrats are split. i they going to get hurt? >> hillary is trying to position herself to the left the door w. bush and to the right of rand paul because she is looking to run for president. i don't think she will be looking to make these statements unless she is ready to run. her history is going to make that difficult for her. one interview, the new start treaty, she handed to vladimir putin, the iraq war, she says i was for it before i was against
it. you know what? the positioning is phony, it will take the gop candidate, a good one to point out these inconsistencies. stuart: the democrats are split, two months to election and the president and his former secretary of state are going at it in private. >> of course they are and this is a clear signal hillary is trying to eke out the middle, quote, because she really believed in what she said she would have resigned. stuart: that was a professional politician, compulsive trying to leaders. stuart: there is more. american companies that move abroad to avoid sky high taxes, he called them unpatriotic, roll tape. >> even as corporate profits are as high as ever a small but growing group of big corporations are fleeing the
country to get out of payin taxes. they are keeping most of their business inside the united states that they are renouncing their citizenship and declaring their base someplace else just to avoid paying their fair share. stuart: here comes the hypocrisy. the white house says the administration will not return campaign donations from people linked to those so-called unpatriotic companies. we took the money and are not giving it back. which people donated? which companies are they associated with? >> 20 donors were identified at bloomberg that are involved in transactions within versions. the biggest name is jim rogers, of duke energy in 2012 when the democrats went to their convention in charlotte. he was co-host of that convention, duke energy gave a huge amount of money, millions of dollars to democrats to host it and he resigned, he is no
longer president of duke energy but he is attached, director of applied materials and they have recently purchased the tokyo firm and headquarters in the netherlands and they will do one of these conversions to avoid taxes. stuart: we put the wrong jim rogers on the screen. we put the investor up. sorry about that. >> lots of jim rogers around. stuart: some of them very well known. i am saying this is hypocrisy. you take money from people associated directly with unpatriotic companies. am i being too strong if i call the president to hypocrite? >> you would be completely -- it is not a first-time either. president obama campaign that one point saying we should have publicly funded collections and then instead of actually going that route, he did not take any presidential public money at
all, bypass the system entirely. when it comes to hypocrisy on the campaign fund front hypocrisy is his normal mode of action. stuart: stay there for a second. you are nodding your head. >> is very cynical. this is the hypocrisy of the urban liberal elites, the same people that want to raise energy prices for carbon tax, throw poor people out of work through raising minimum-wages, change the poor to welfare programs that will encourage the poor to live in homes they can't afford through programs like at h a, it is part of the bigger picture. stuart: back to the economy, there's a big deal going on here. you are not spending money. walmart reported sales flat last quarter, that is the sixth straight quarter of declining or no sales growth. they lower their forecasts for the year as well. the stock however is up fraction. same story with liz macdonald and macy's, we saw those the previous week. sales just not there and the slowdown is not just here in
america but german economy contract of last quarter, the fourth largest in the world contract in annual rate of 0.2%. france came in, they gdp a flat forecast. look at the big one. the number 3 economy in the world, japan, it shrinks, it contracted at an annual rate of 6.8%. what is the result of that? we keep a close eye on interest rate, the ten year treasury today, the yield down some more, 2.4%, looks like it is headed lower. germany at yield dropped below 1% briefly in japan pays 1/2%. that is it. according to the latest fox news poll, most do not approve of the handling of the economy, 43% approve, 51% disapprove. carry the story forward. i think we are going to see a change in the news cycle. 4 weeks it has been foreign policy that dominated the
headlines. i think the economy is going to make a come back. >> i want to know who these 43% are that approve of this economy? i can't predict the future, i can't see the president -- and i only expect that to get worse. in terms of the economy you are right. american voters vote their wallets and when you see 2% annualized growth, stagnant wages, when you see a lot of part-time jobs being created americans can't get the jobs they want, good paying jobs, then i think when they go to the polls in november that will be first and foremost on their minds. stuart: we will see but here's an interesting item. criticism of the president is coming from all sides, even the french. the french foreign minister blasting president obama for being on vacation while iraq falls to terrorists. a direct quote from the french
foreign minister, i noticed holiday period in our western countries but when people are dying you must come back from vacation. it has come to is this? is the fringe in august, when the entire country goes on vacation, now they're criticizing president obama for going on vacation? >> i never thought i would see the day. stuart: you have been in france. >> i lived there a while. nothing happens, there is no one there. it is unbelievable. stuart: you are in d.c.. >> it has come to this? >> absolutely. hy define anyone who is a fan of the president these days, he is criticize all over the nation, all over the country, playing around on martha's vineyard is no wonder he will come back to washington d.c. no idea what he is going to talk about on sunday. stuart: when you get so far down in late place to go is up. you could look to see a bounce
back in the polls for the president, couldn't you? >> it is possible but hillary clinton, this is just a beginning. the longer he stays down in the polls and we will see democrats like hillary clinton distance themselves from this president. stuart: just wait until we tell the audience the latest news on obamacare. that won't make the president very popular. thank you very much. let's get to the markets. it is thursday morning on the east coast. we are up 27 points with the dow jones industrials, 16679, slow trading session, then cisco is going to cut 6,000 jobs, reported weak sales growth as well down 2.5%. the s&p, the broader market indicator, it is a slightly, 1/4%. we're 1313, that is dead flat. the price of oil and interesting indicator in times of
international turmoil down today, $1.34 at 96. the restaurant chain, read robyn a big loser and you're going to tell me why. >> read robyn, you think of their gourmet burgers, but shareholders are disappointed to see stock down 20% is hitting a new low. we are also watching noodles, another name in the group, they cut their numbers as well, there was a decline in earnings, hurt by higher food costs and beverage costs. and that is down. the crazy chicken to the downside. down 5%, you see the whole group is lower. ruby tuesday, jack in the box.
stuart: middle america isn't spending. they are not increasing their spending. their stocks go down and restaurant chains go down. anybody who caters to that the vast bulk of middle america is not doing well. >> if you own a restaurant you get the people in. don't know how you get people to come in your restaurant, and a bigger check, done just waterside dish. come john in and order lot. it really is some grime, consumers learn from the great recession and are more cautious. sandra: we would get the burger king story in a second. thanks a lot. the dow is up 30. football is coming to china. huge market and big gamble. here comes the man who is putting up his own money launching a football team in the new china american football league. he thinks he is on to a winner.
up 30 points, 16-6. fuel cells, they reported a profit, the market loves that. is up 4%. here is our regular segment, time is money. mark zuckerberg accepted governor chris christie's eyes but that challenge and he in turn, cheryl standard, netflix chief read hastings, is there no end to the ice buckets of them. to burger king, is dropping its low-calorie satisfies from the menu, customers want regular fries. they're still the pride of choice. and he told tom watson, for the rehab. rory mcilroy will be there for the european team. i am supporting the americans. let's get to football. you know, i am not an expert on football.
of course i am not but i know football america's sport. bringing football -- better there than it is here. philadelphia's soul, you put your own money into this. >> over $10 million so far. stuart: the football. your bet is somebody is going to buy you. it goes off big in china. >> i have been in business 44 years. we have a great company. this is for the fun of it. stuart: what makes you think china will adopt america's board? >> i have been over there for two years selling it to china. we just had a first-ever professional football game played in november right next to the bird's nest, we had 10,000
people there. the place was packed. we had a young boy come out and steal the football the way they do in the united states. chaney contact sport. stuart: somebody is quoted in the times. >> i puzzled over this quote, it is what the chinese government wants. what happens when the chinese government doesn't want it. thinking of yahoo! and any number of companies that set i made many here. i will make it in china and the government just take it right away. stuart: it is tough. >> i am different from yahoo!. i don't dictate to the government. i partner with the government and they love me. they want american sports. i am the guy bringing american sports, there's no baseball, no football, and they increase their budget from 2.5% of gross national product to 7.5% in the next five years. that is like $63 billion they want to spend on sports and what
kind of sports? american sports because football, chairman lee said, makes bullies into men. stuart: i think i know what you are trying to do. i am speculating here. a lot of billionaires in china, a lot of money and a lot of the really wants to invest in soccer clubs in europe but they are all bought up, russian billionaires' for heaven's sake so you are going in with the expectation that you start american football team and those chinese billionaires' will invest in american football instead of soccer. that is your gamble? >> it is a gamble that i took that is going to pay off because i had rights in china and they need to buy and earn something. there are 15 million votes in the united states, 15,000 in china. 1.4 billion people and they have nothing to spend money on. maria: is in the plate to get the money out of china because
it is not safe in china? these guys are desperate to buy teams in the united states and europe because they don't trust the chinese authorities because if you trust -- if they make too much money they get thrown in jail. that is the history of modern china. >> you are right but the future -- capitalism has taken over china. the horse is out of the barn. they become more like us every single day. but monetary policy will be broken soon. they will be just like us. the arby will be all over the place. it is changing. i have been there since 2008. stuart: don't get the wrong impression. you take a big gamble, very interesting point you are making here. it is a gamble, you are putting $10 million in but tell me what is this about you have got the right to football in china? what rights? >> the government has given me exclusive rights to american
football in china. in the war. stuart: so only you. >> i am setting up a college league this fall. they never played intercollegiate college ball before. there is no n.c.a.a.. i am starting china college athletics association. stuart: will they pay young chinese guys to play in your football league is the playing football? >> i am paying them. stuart: they are encouraging it? >> i am in charge of it. stuart: what about the tv broadcast of the indoor -- >> i don't know but i have got to pay. stuart: that is not a bad deal. >> i get the sponsorship. 1.4 billion people, they all want american products. stuart: you get sponsorships for the league over which you have full control or full rights, you sell sponsorships. >> i own a sponsorship. we are working with beijing tv.
we are dealing -- we own our own channel for football. we are third. this didn't happen. i had been working with ron and myself over there for three years focusing on getting we just got it. stuart: when do you start playing? >> we start playing -- college starts playing this september. and we will have the first intercollegiate play ever and next year will be the pros. stuart: how many teams at the college level? >> six in chinese. stuart: how many teams at the pro level? >> six to eight, east/west, 52 games and an all-star game at macao. you know what tracy stands? the bones this stands in the venetian -- she is from this
area. a local boy. stuart: this is terrific. >> an entrepreneur. stuart: this is an opportunity of you have the rights to indoor football in shy. you are on to something. good luck. what is the name of it again? the china/america football league? you start in september. >> we do. stuart: you will come back to was? the fox business network? >> first. stuart: all right. i saw you on the other channel. >> the other channel. stuart: we do like you after all. thanks very much for being with us. let's talk amazon. launching a smart phone credit card reader this week. huge potential for the reviews. real bad. we will tell you all about it in a moment.
anyone can connect to this and create a service. >> applause, please. that is the gentleman talking about the actual use of the yo app. that is all that it does. wild success, by the way. what do you think his response was? show me the money. the next hour, we will ask one of our managers if there is indeed a bubble. amazon's mobile credit card reader.
it debuted yesterday. the rating is two out of five stars. the aesthetic is just kind of lousy. take that. another says, i was all set to switch over from square. wait, i have to set up a new account. that move, jo ling kent is here. that is a terrible review and recession. >> it is not a good review. it just came out yesterday. this is about the app.
do you really want to have your personal amazon prime account? stuart: when i think amazon, i think seamless. i want to incorporate that right into my amazon account. i have two set up an entirely new and separate account. >> you are actually open and available to use other tax benefits. all kinds of different write offs. that can actually get quite complicated. amazon, again, there are complaints. they are trying to figure out what works. probably not exactly complete yet.
i am not supporting anyone. we do not have complete information. we are trying to get in touch with amazon. you can see them. they are there. stuart: i like the idea. i am all for it. i just do not particularly want to set up a separate account. >> all kinds of things change. stuart: thank you so much. if you like your health insurance, despite what the president said, you cannot always keep it. fresh perspective. in opinion piece on the "wall
♪ >> if you have health insurance, you like your doctor, you like your plan, you can keep it. if you like your insurance plan, you can keep it. no one will be able to take that away from you. >> you will keep your health insurance. >> if you like your doctor, you will be able to keep your doctor. if you like your health care plan, you will be able to keep your health care plan. stuart: well, you know, it did not quite work out like that. they are finding ways to shift their cost to you, the employee. they pay less, you pay more.
moving workers to plans with much higher deductibles. forcing spouses with access to other plants to pay higher premiums. mary kissel is here. the story here is obamacare is forcing employers to dump plans. that is what the cadillac tax is all about. in your introduction, it almost sounds like the big bad company is forcing you to pay more. if you put a big tax levy on a company, they will figure out if they can get around it legally. same thing with tax aversion. stuart: the cut off point. if your employer place 10,200 for your health care plan, anything above that is a 40%
tax. you try to get underneath that threshold. the treasury does not get all the cadillac tax revenue it thought it was going to get. it will add to the deficit. >> it hits unions very hard. unions are some of the biggest backers of obamacare. stuart: who is buying up houses in america? >> not always americans. you are telling us that it is wealthy foreigners who are crowding out american buyers. like a new york for example. give me some numbers on this. 92 billion. >> $92 billion cash real estate
in the united states. >> correct. about 22 billion in china. stuart: okay. who is second in line? >> the canadians in terms of sheer volume. >> i thought that russians were right up there. stuart: you are telling me that they are crowding out americans. even americans with money. >> yes. right now, they are losing out on bidding wars who are trying to put cash in america. >> they buy with all cash which is more attractive to the sellers. >> i am a yankee. i have to go get a mortgage.
>> i see it happening. 92 billion. 35% increase from the year before. that is a huge increase just in the last year. why would chinese folks the buyers here. >> i think that they are looking to get their money out of china. i guess new york and america in general is a very safe place to park your money. >> confidence in the united states. >> i am not suggesting that for one moment we do not want this. look at you. wait a minute. didn't you make some money and chinese real estate? >> i worked very hard.
foreign correspondent for many years working seven days a week. yes, i brought that money back. >> is that i had? stuart: no. i am all for it. you run a business. >> yes. i work on all sides. a deal is a deal. business is good. it's continuing to rise. stuart: thank you for joining us. >> thank you. i appreciate it. not much has changed on the market thus far. interest rates still coming down a bit. how does this one sound? unlimited vacation. go take that vacation. here is the money. does that sound good?
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the s&p up. take a look here at the vix. the fifth straight day in a row. it may close the lowest in three weeks. take a look at merck. burke getting fda approval. that is up almost 1% right now. take a look at the department store chain. doing well today. up 3.5%. imagine your boss gave you over $7000 to take a vacation. turn off your blackberry. we will delve into that next. ♪
♪ >> lookee here. you can have concerns about the personal information they are sharing with advertisers. i have heard this before. lauren simonetti, now what? >> most of us shop on three devices a day. if an advertiser is paying good money, they can tell if you have viewed it on the phone and then they can see if you bought it later on that night on your desktop computer.
now facebook can track all of that. stuart: i think that is good for the stock price. it is the exploitation. >> facebook is giving that to the marketers. one of the sites, a furniture site, they are so positive on what facebook is doing it helps them incrementally. >> that is a chart and a half. that is why facebook keeps going up. >> i know you through privacy out the window a long time ago. get off of facebook. >> i kind of already did that. stuart: i am not on facebook.
>> she probably has a fake name on that page. stuart: let's move on. here is a good story for you. your employer pays you to go on vacation. better get, they do not have a limit on the number of days you can take. here is the ceo behind the company. it is a shipping company. first of all, why are you doing this? >> hi, stuart. why am i doing this? i get asked that a lot.
i initially started this policy because i was afraid of ruining my honeymoon. that is what my continual habit was. we have to disconnect from devices. we will actually pay you and him fantasize you to do so. >> if i work for you, i could take off a limited period of time. in the event of an emergency, someone could take over for me real fast. i must be on vacation. does that help you make more profits? i want profit. does it help you?
>> yes. absolutely. it increases dramatically. if you cannot disconnect on vacation, there is no point of taking a vacation. it is unhealthy. in addition, it creates space. if you know you will be disconnected from the company, there is backup built in. >> here is the other side of the coin. i do go on vacation, but i hate being out of the loop. i do not want to be cut off from everybody. i do not. >> you cannot work for me. [laughter] stuart: i work hard.
i am very proud of this. >> that is what we call misguided hero syndrome. everybody is replaceable. stuart: you will never come on this program again. [laughter] >> we are in lovely denver colorado. stuart: i want you to come to new york. i want you to sit next to me. we get really bolted in. we make money. we are americans, young man. you come to my city and you are welcome to sit on the set next
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stuart: another customer service horror story from comcast. a man is put on hold for three hours. watch what happens. >> i am sorry. our office is now close. our regular business hours are weekdays -- >> they are closed. >> he waited hours. they left for the day without even answering his calls. here is a tip. he is on our production team.
if you do not want to wait on hold like that guy, choose the option for open and account or new customers. these companies are eager for fresh meat. if things they are getting a new customer, they will answer immediately. good stuff. the federal reserve makes interest rates super low for car loans. that has some people paying subprime rates. subprime. what is this? >> auto loans. especially to the riskiest borrowers. it has doubled since 2009. they raised standards during the
crisis. as for the rest of the broader economy, auto loans delinquent these are still low. cars are easier to repossess. it does not bring down our values. still, the fed says it has an eye on this trend. >> the word subprime. when that comes back, that is a nasty word to be using. it is back. thank you very much, indeed. legalized pot is a public health dennis. next, someone who agrees with that opinion. she will state her case. big stars plowing money to the campaign of senate and democrats. here it comes. the second hour. it is two minutes away.
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stuart: push back on path. do not think that legalization is given. here is my take. legal pot is a public health menace. he polls together the medical research. use it once a week and it affects the brain development of teenagers. it cuts your iq says the american psychological administration. the pot smoke today is far more powerful than it was maybe years ago. it seemed that the path was clear. the "new york times" making a strong endorsement to just that. now the pushback on medical
grounds. if it does damage, how long will it be before we see the lawsuits fly. ♪ >> let's get right at it. a public health menace. >> that article is exactly right. it is the chemical found in marijuana. it is made to lower test scores. those that are regular users found 10 times a week. this is something that is very dangerous. it is okay. it is less harmful than marijuana. >> you met it is not as bad as
alcohol. >> it is much worse. stuart: i thought that it was pretty much plain sailing towards national record used legalization. i thought we were in that. you are a youngster. you are going to harvard next year. do you think that it is shared for other youngsters, other millennial's of your age? >> it is a significant number. i think when people sit down and look at the facts, young people included, they will find that this is a terrifying substance. it is bad for your lungs. it is bad for your minds. we can push back on this
conclusion that marijuana is okay to use and it is much less harmful than alcohol or cigarettes. >> i do not see colorado being terrified. >> i think that they should be. right now we are seeing the affects of legalization. what happens over a 10 year period i know several people that i would call addicted to marijuana. what happens when you have an entire generation. >> it was big-time in the 1960s. the usage has gone up and down a lot. many of you have used it for decades. maybe i am wrong, but i do not
see the dire effects over to generation. >> i do. america is already lagging behind. you compare test scores and we are already lagging behind academically. once you legalize it, that becomes much worse. i think you will see a generation of individuals. they will be lagging behind academically. it is just study after study. marijuana is bad for you. there will be a huge throwback 10 years from now. i hope that that does not become the case. stuart: it is my point of view. it is not an opinion.
you say what? >> yes. i think that that can absolutely happen. i do not think that they will experience much. if we are honest with ourselves, people care about having a job. i do not think that these rallying point issues. >> i would hope both liberals would stand up as well. >> okay. good stuff. come and see us again. stuart: here we are. let's get to the markets. not much price movement. the s&p 500, a very similar story. there is a company. very interesting.
they reported week sales growth. a different story at coles. a strong profit. it is up 3%. a lot of the other retailers, you are not spending money. case and point. walmart. nicole: you see that the stock is virtually flat. they have had to cut their full-year profit forecast. it is that they are not making a huge sale. they have also related costs and health care. coupled with the fact that you are not having the shoppers spend a lot of money. they are vamping of the online walmart because they need to compete. the company is noting that they continue to try to expand in that area.
they are trying to remain really competitive. you are a chief bricks and mortar operation. at the same time, you have to stay big on the online part of your business. amazonnle. th isll ty' g. >> they have to do it a. u bter rea too i l. inerso line this is not easy this day and age. >> the sloown. were tkingonsur spding the. isot gwingeryuick herenmeri. iaveome numrs f you germy ctracd atn aual rate ance thedp,eadlat. do n fort, j
receiving those subsidies. the economy is not improving. you would think that we would be going basically straight up. i think that is a big issue. it is something that a lot of traders realize. it is not going up as fast as we thought that it would be. stuart: they are either in recession or dead flat. larry, i am sorry. got to go. time to wrap it up. did we have hollywood dumping money into the midterms. they are all donating money big time. aimed at keeping the senate poll of democrats. joining us now, hollywood
hypocrites. no surprises here. they have been donating to the left for years and years and years. they are not stopping at all. are they. >> no. generally, i think, their support helps. it could hel sfintly omef t itanc i tha it cld birre u he grisledg he wl pcthe c shel somlookut fo andromohem. he i getng tt have dropped100,000 into her campaign recently. i just contrast out-of-state
celebrity support. >> this is a celebrity so society. we really played up celebrities around america. does it move both? that whole lives of celebrities are giving to thet. democrats. >> i think it really helped with barack obama because he was that celebrity candidate. willeratingrobably idte elen,t is ab wch bore thr b inot exc.
stuart: amgen stock is higher. of nearly 24% there. they have to pay them for what they say. elizabeth macdonald. >> this is an interesting story. what is going on? >> the city violated state law. they said they were denied meal breaks. lumped in there was the napping on lunch breaks. they were not allowed to nap. that got lumped in with all of this. what happened was, they won. they got $26 million. 15,000 for these 1100 workers. they initially wanted
40 million. guess who gets a lot of money out of this? lawyers. stuart: so, you cannot say to your workforce no napping on your break. >> during business hours. stuart: you have to pay them $24 million. >> about $15,000. >> i am sorry. it is state and city workers in california. stuart: let's not forget. okay. got to move on. atlantic city struggling with rabble hotel and casino. it is announcing it will close its doors next month if it cannot find a buyer. we have the ceo of the authority.
i think the revenues last month were about $10 million. it is not necessarily a whole lot. they have an impact on the bricks and mortar. it is such a different experience. it really is not the same experience. it does not appear that that is the problem. stuart: it just is not new anymore. you could only gamble in nevada when i first came to the country. it is not new anymore. >> it is not new. it has forced the operators to try to reinvent themselves and as many ways as possible. we added margaritaville and a whole complex of a beach bar. we created another reason to
come. you have to look for more and different ways to bring people into your casino. it is no different than adding a roller coaster to an amusement park every year. you have to give people new reasons to visit. >> give me a look at the future. five years down the road. what will a successful casino operation look like? what will they do? >> more entertainment destinations. they will obviously drive a lot of revenue. you will see more and more evolution. you can argue.
it will be more entertainment complex. you do not have to have a lot of them. as it wore off, as you indicated, the revenues started. we also have to get out of our business. we are making more money. stuart: sir, you have just delivered three minutes of first-class marketing. that was pretty good. >> thank you. stuart: thank you very much for joining us.
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in the woods. why don't you run for the presidency? >> barack obama actually authorized a number of secret negotiations. according to my sources, they promised elizabeth warren that if she would enter the primary campaign they would give her political and financial support to do so. stuart: that is the exact opposite. >> bill clinton's overall strategy and we are seeing it work out with hillary's criticism with obama is to make hillary such an inevitable candidate that no one will comment and challenge her. in fact, the base of the party is 70% for hillary clinton.
they did not like the idea that she started criticizing the president saying do not do stupid stuff is not a strategy. they do not want to see the split in the party. they want to see hillary bring the party together. stuart: what hillary had to say did not go down well with the base. >> it certainly did not. all are big hillary supporters. they also like barack obama as the first black president. they think that is a great thing. now they want a woman as president. stuart: any political party obviously hurts them. can we turn that around and say it obviously helps the
republicans? >> i think that it is. i think that it has become increasingly apparent that hillary is going to the right of obama with their criticisms of obama. it is exactly the position she took in 2008 and it did not work. by doing so, i think that she is being premature in her attacks against president obama. >> how do you think the clinton camp should react to and elizabeth warren primary challenge? >> i will tell you exactly what i think. i have been reporting on this. the clintons invited elizabeth warren and her husband to their home in washington a few weeks ago. they had dinner together.
they ate lobster on linguine and hillary took a walk in the woods with elizabeth warren. i do not know what they said. >> that was the walk in the woods moment. okay. >> a pleasure. thank you very much. private companies like google will have access to superhigh resolution satellite. that means google can see your face from space. how about that. ♪
good enough indeed to see your face. we have a libertarian with us. these cameras will be used by private enterprise. i know you libertarians always object to everything the government does. you object to these high resolution cameras. >> in general, no. there is a disturbing trend. i do not think we actually need to do that here. there is something about permission must innovation. the goal is to open as wide a range of options. they can create cool things. i see absolutely no incentive for google to emigrate their brand by taking pictures of people's faces from space.
stuart: obviously, there is a concern about privacy. stuart: relatively remote. i can get over the hill and nobody can see me. until now. >> it is interesting. a very famous paper about privacy. totally freaked out. the camera. they did not want the press taking pictures of people and just publishing them. you have the emergence of standards and norms of society. they interact. i am not afraid of google glass. i am not afraid of satellites in the sky. stuart: you do not prohibit now.
you open up now. let's see what happens. >> marijuana? former drug czar. i think the headline is a public health menace. a public health menace. you are a libertarian. do you disagree with this? >> a few organizations have come out in said maybe it should not be a struggle one. i find it really interesting about advocates. they always talk about the harm that it may pose. those harms are very real. we have categorized marijuana as one of the most dangerous drugs in the world.
that is absolutely ridiculous and outrageous. we should be willing to explore the universe of possible options. >> pot is a more powerful force. >> we have heard all of that. it may be something we need to be concerned about. >> i do not think that it is good for kids to watch television all day long. no one is actually talking about legalizing drugs. >> i am not talking children. >> it is illegal for them as well. >> it is easier to regulate once it is legal. it is in a dangerous black market. i have never met a teenager that did not know someone that was feeling hot.
stuart: if it is dangerous and damage is done, shortly, a lawsuit. >> how do you sue your local drug dealer? they are making cigarettes. >> i would not want my child -- >> that really is not the issue. stuart: if you can prove that marijuana has harmed you and you got it from a medical dispensary, can you not sue? they gave you a harmful drug.
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market. down 10% on the dow by october. make your case. >> thank you very much for having me. it is the most bearish that i have had. the conditions are right right now for correction. then we take this historical portion of it. when is it most vulnerable. most vulnerable between now and the end of october. a 6290 day window. we had a five year bull market. it concluded topped out in august. 2007, we had a five year bull market. it concluded in october. we are in a five year bull market.
this window of time is august to the end of our sober. we should see some type of correction. the conditions are right. the key components of your proprietary indicator. >> volume that is towards buying. that volume has dropped off considerably since may. an indicator that shows where stock prices should be going. stuart: i have to move on real fast here. americans not buying much. not spending money.
>> the policy of the president has put in place what they may be. the policies are failing because they are giving lowerdance. robly ulbe a byer wal eicie oma h p la aaili the ddle >> gmany re n cacng. >> fnce flainin l of that as the ukraine crisis comes down. here is the bottom line. stepping in once again. stuart: near historic lows. japan half a percent. not a good sign. >> you have tension around the world. people buy the u.s. bonds. that pushes a yield lower.
it is really indicative of tensions around the world.s it economic troubles to come? >> economic trouble everywhere. it is everywhere, stuart. stuart: you make your point. cisco. i used to call it a door stopper of a stock. breaking in now. the president is about to address the nation. >> first of all, we continue to make progress of carrying out our military operations in iraq. protecting our people and facilities inside of iraq. a military and operation to help
save them stranded on a mountain peered many thousands of these men, women and children had abandoned their positions to take refuge. we also knew that terrorist were killing and inflating these civilians in their custody. without food or water, they faced a terrible choice. start on a mountain or the slaughtered on the ground. that is when americans came to help. they conducted humanitarian airdrops every night. delivering more than 115,000 meals and 35,000 gallons of water. we were joined in that effort by the united kingdom and other allies pledged their support. the military was able to successfully strike targets around the mountain.
completed the condition on the mountains. they found that food and water had been reaching them underneath. hoping to facilitate messages of their families. the situation on the mountain has greatly improved. americans should be very proud of our efforts. the skill and professionalism of our military. we help vulnerable people reach safety. we help save many innocent lives. because of these efforts, we do not expect there to be an additional operation.
it is unlikely we will continue to have airdrops on the mountain. the majority of the personnel will be leaving iraq in the coming days. i just want to say that as commander in chief, i cannot be prouder of the men and women in our military that carried out this operation almost flawlessly. i am veryful for them and i know that those that are trapped on that count in our very grateful as well. the situation remained very dire. this includes minorities and our iraqi christians. we will be working with our international partners to provide humanitarian assistance. wherever we have capabilities and we can carry out effective missions like the one we carried out without committing combat troops on the ground. we obviously feel a great urge
to provide some humanitarian leads to the situation. our international partners have been helping on these kinds of efforts as well. we will continue airstrikes to help our people. we have increased the development of military to the forces. perhaps, most importantly, we are urging iraq is to come together. enormous opportunities of forming a new inclusive government. i had a chance to speak to prime minister designated body a few weeks ago. he spoke about the need for the inclusive government. a government that speaks to all of the people that is needed right now. they are putting a government
together. we are hopeful that the government situation is moving in the right direction. now, second, i want to address something that has been in the news the last couple of days. ferguson, missouri. i know americans have been deeply disturbed by what they have seen. today, i would like us all to take a step back and think about how we will be moving forward. eric holder has been following this. they have been independently investigating the death of michael brown. the department of justice is also consulting with local authorities. while avoiding unnecessary
escalation. i make it clear to the attorney general that we need to do whatever is necessary to make sure that justice is done. i also just spoke with the governor of missouri. i expressed my concern. now is the time for all of us to reflect on what happened and find a way to reflect going forward. he is a good man and a fine, north. i am confident that working together he will be able to communicate his desire to make sure that justice is done and his desire to make sure that public safety is maintained in an appropriate way. it is important to remember how this started. we lost a young man. michael brown in a heartbreaking and tragic circumstance. he was 18 years old.
his family will never hold michael in their arms again. when something like this happens, the local authorities, including the police have a right to be very open. there is never an excuse for violence against police or those that would use this tragedy as a cover for vandalism and looting. there is also no right to protest or throw protests in jail for exercising their rights. police should not be bullying or arresting journalists that are just trying to do their jobs. simply, we all need to hold ourselves to a higher standard. i know that emotions are raw right now in ferguson. there are certainly differences
about what have happened. there will be different accounts of how this tragedy occurred. there will be differences in what needs to happen going forward. let's remember we are all part of one american family. we are united in common values. that includes belief in commonality in the law. the dignity for every single man, woman and child among us. the need for accountability when it comes to our government. now is the time for healing. now is the time for peace and calm on the streets of ferguson. now is the time for an open and transparent process. i asked that the attorney general on the scene continues to work with local officials to move that process forward.
they will be working with me to make sure that that happens. thank you very much, everybody speak to the president speaking they are from martha was figured. he updated his situation in iraq. there have been improvements to those people stuck on that mountain. he said the situation, it had indeed improved. he went on to say that america would continue to try to help without using ground troops. america will help them, but not with ground troops. he called for a full investigation to the death of that teenager. he closed his remarks by calling for healing, peace and calm. the dow industrials were up 42
points. the it and the dow is up. i am not suggesting that there was any movement of stock prices because of what the president had to say. while the president was speaking, we had other breaking news that we now wish to bring you. american companies relocate their headquarters overseas for tax purposes. these companies are called unpatriotic. a democrat from oregon. he is also chair of the finance committee. he is a republican. working together, they want a piece of bipartisan legislation. that is the news on those patriotic companies leaving
america. my time is up. here is teardrop bullpen. >> thank you very much. a special guest is here on the future of the banking industry. senior chairman of sullivan and cromwell. entertainment world using a third of its value. a drop in its attendance. we will tell you what it means for the world's largest private equity firm. the ceo of e harmony. more than just superficial. ♪ when it comes to the business of matchmaking it. investors traded did the financial crisis of 2008 have not forgotten that. in response to the near collapse of the system the u.s. government passed the dodd-frank wall street reform and consumer protection act. the goal, better regulation of the financial industry and